There are different types of power of attorney documents. Today we will look at a limited power of attorney. You can limit the ways in which your attorney in fact (what we often refer to as “our power of attorney”) can exercise his or her authority under your power of attorney. One of those ways is by time.
You could have your attorney draft “This power shall remain in force until 10 PM on July 4th, 2014, at which time it is automatically extinguished.” You can limit it by saying “This power shall remain in force until I return from my trip to Poland; my return is defined as the hour my plane lands on U.S. soil, returning from my trip to Poland which begins on May 1, 2014 and is presently scheduled to end on May 15, 2014.”
It is up to you how long a power of attorney document remains alive. If you do not create a limit in time, the presumption is that the authority under that document remains in force until such time as it is revoked by you or a court of proper jurisdiction, or you die.
Consider the limitations you need to make your power of attorney document efficient, but limited.
Please contact Mateya Law Firm to help you with your estate planning needs, including the power of attorney document.